CGMS vs. BCOIX

Last updated Jun 23, 2026

CGMS (Capital Group U.S. Multi-Sector Income ETF) and BCOIX (Baird Core Plus Bond Fund) are both funds - CGMS is a Multisector Bonds fund actively managed by Capital Group, while BCOIX is a Intermediate Core-Plus Bond fund managed by Baird. Over the past 3 years, CGMS returned 7.98%/yr vs 4.93%/yr for BCOIX. A 0.76 correlation means they provide meaningful diversification when combined. CGMS charges 0.39%/yr vs 0.30%/yr for BCOIX.

Performance

CGMS vs. BCOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group U.S. Multi-Sector Income ETF (CGMS) and Baird Core Plus Bond Fund (BCOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGMS achieves a 1.51% return, which is significantly higher than BCOIX's 0.64% return.

CGMS

• 1D: -0.22%
• 1M: 0.34%
• YTD: 1.51%
• 6M: 1.68%
• 1Y: 6.08%
• 3Y*: 7.98%
• 5Y*: —
• 10Y*: —

BCOIX

• 1D: 0.20%
• 1M: 0.97%
• YTD: 0.64%
• 6M: 0.87%
• 1Y: 5.02%
• 3Y*: 4.93%
• 5Y*: 0.66%
• 10Y*: 2.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CGMS vs. BCOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CGMS Capital Group U.S. Multi-Sector Income ETF	1.51%	7.52%	7.24%	11.51%	2.77%
BCOIX Baird Core Plus Bond Fund	0.64%	7.47%	2.54%	6.89%	3.60%

Correlation

The correlation between CGMS and BCOIX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022	0.76

The correlation between CGMS and BCOIX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

Return for Risk

CGMS vs. BCOIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CGMS

CGMS Risk / Return Rank: 55
CGMS Sharpe Ratio Rank: 53
CGMS Sortino Ratio Rank: 57
CGMS Omega Ratio Rank: 54
CGMS Calmar Ratio Rank: 51
CGMS Martin Ratio Rank: 63

BCOIX

BCOIX Risk / Return Rank: 27
BCOIX Sharpe Ratio Rank: 26
BCOIX Sortino Ratio Rank: 29
BCOIX Omega Ratio Rank: 26
BCOIX Calmar Ratio Rank: 30
BCOIX Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CGMS vs. BCOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group U.S. Multi-Sector Income ETF (CGMS) and Baird Core Plus Bond Fund (BCOIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CGMS	BCOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.38	+0.36
Sortino ratio: Return per unit of downside risk	2.62	2.09	+0.54
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.08
Calmar ratio: Return relative to maximum drawdown	2.47	1.95	+0.52
Martin ratio: Return relative to average drawdown	10.95	5.51	+5.44

CGMS vs. BCOIX - Sharpe Ratio Comparison

The current CGMS Sharpe Ratio is 1.74, which is comparable to the BCOIX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of CGMS and BCOIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CGMS vs. BCOIX - Drawdown Comparison

The maximum CGMS drawdown since its inception was -4.08%, smaller than the maximum BCOIX drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for CGMS and BCOIX.

Drawdown Indicators

	CGMS	BCOIX	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-18.13%	+14.05%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-2.58%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-4.08%	-5.61%	+1.53%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.13%	—
Current Drawdown Current decline from peak	-0.44%	-1.05%	+0.61%
Average Drawdown Average peak-to-trough decline	-0.66%	-2.18%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	0.91%	-0.35%

Volatility

CGMS vs. BCOIX - Volatility Comparison

Capital Group U.S. Multi-Sector Income ETF (CGMS) and Baird Core Plus Bond Fund (BCOIX) have volatilities of 1.12% and 1.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGMS	BCOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.09%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	2.72%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	3.64%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.12%	5.65%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.12%	4.68%	+0.44%

CGMS vs. BCOIX - Expense Ratio Comparison

CGMS has a 0.39% expense ratio, which is higher than BCOIX's 0.30% expense ratio.

Dividends

CGMS vs. BCOIX - Dividend Comparison

CGMS's dividend yield for the trailing twelve months is around 6.10%, more than BCOIX's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCOIX Baird Core Plus Bond Fund	4.34%	4.21%	4.13%	3.58%	3.10%	2.96%	3.51%	2.96%	3.13%	2.83%	3.01%	2.84%
CGMS Capital Group U.S. Multi-Sector Income ETF	6.10%	6.00%	5.91%	5.84%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGMS and BCOIX in my portfolio?

CGMS and BCOIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGMS or BCOIX?

CGMS has higher volatility (1.12%) compared to BCOIX (1.09%). In terms of maximum drawdown, CGMS dropped -4.08% vs BCOIX's -18.13%.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (1.74 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.